Regulation · State guide
Who regulates annuities in Texas, what protections exist, and where to verify a carrier or producer before you buy.
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If the annuity you bought replaced an existing policy or contract, Texas gives you at least 30 days after delivery to return it and receive an unconditional full refund of premiums paid.
Tex. Ins. Code § 1114.053(e) — Texas Insurance Code § 1114.053 — duties of replacing insurers that use agents, right-to-return noticeVerified 2026-08-25
An agent must act in your best interest when recommending an annuity, and the insurer must supervise those recommendations.
Tex. Ins. Code § 1115.001 — Texas Insurance Code ch. 1115 — Suitability of Certain Annuity TransactionsVerified 2026-08-25
Texas levies no individual income tax, so annuity income is not taxed at the state level.
Tex. Const. art. VIII, § 24-a — Texas Constitution art. VIII — Individual Income Tax ProhibitedVerified 2026-08-25
Fixed annuities are insurance products, so they are overseen by the state insurance department rather than by the SEC. The department licenses the carriers and the producers who sell them, and it takes consumer complaints.
Every state has a life and health insurance guaranty association that steps in when a member insurer fails. Coverage terms are set by state law and differ by state and by product. Contact the association directly for what applies to a specific contract.
Get a free annuity review or see current rates filed in Texas.
This page is educational and is not legal, tax, or insurance advice. State rules change. Verify anything here with the Texas insurance department before acting.